The World Bank (WB) on Wednesday said it plans to provide $1.3 billion in emergency, agricultural and housing assistance to Pakistan following catastrophic floods this year, according to a press release issued by the Ministry of National Food Security and Security.
The funds will be released after approval at the international lender’s board meeting in December, World Bank Regional Director for Sustainable Development John A Roome said in a meeting with Federal Minister for National Food Security and Research Tariq Bashir Cheema.
Separately, the World Bank has also agreed to provide financial support to the country to subsidize urea for flood-affected farmers.
During today’s meeting, Cheema informed the delegation that the recent floods and rain have resulted in colossal losses to the farming community. “We are trying our best to provide relief and assistance to the poor farmers and help them in their rehabilitation,” he said.
Appreciating the support provided by the World Bank for flood relief and rehabilitation of affected farmers, the minister said the natural calamity was unpredictable and the affected farmers needed a helping hand to recover and return to normal life.
Additional Secretary Muhammad Asif informed the delegation that the Benazir Income Support Program (BISP) database could help identify farmers for targeted subsidy.
Additionally, the National Flood Response Coordination Center (NFRCC) has developed a digital application that can help in providing supplies to farmers, he pointed out.
Meanwhile, Cheema stressed on strengthening coordination between the federal government, provincial governments, the World Bank and other stakeholders to provide relief and assistance to the needy on the most urgent basis.
He also ensured the full support of the Ministry for World Bank projects and initiatives in Pakistan. He said that helping and assisting the farming community will help achieve food security.
Earlier this month, the World Bank announced that it would provide Pakistan with more than $3 billion to develop infrastructure in the energy sector.